Augusta Coin Club Monthly Newsletter

The Augusta Coin Club Meets on the 3 rd Thursday of the Month at America’s Best Value Inn on Washington Road

The Augusta Coin Club since 1959

Pres. Steve Nix
1 st V.P. Glenn Sanders
2 nd V.P. Howard Black
Sec. John T. Attaway
Treas. Xavier Pique
Sgt. in Arms: Bryan Hoyt
and Joe Bert

Club Mailing Address

Augusta Coin Club
P.O. Box 2084
Evans, GA 30809

Web site:

www.augustacoinclub.org

Special Duties
Webmaster: Xavier Pique
Newsletter editor, Amo Safran
E-mail: amosafran@comcast.net
Bourse Chairman, David Chism
Auction: Glenn Sanders
Bids Recorder, David Chism

Volume 11, Number 11

THE AUGUSTA COIN CLUB MONTHLY NEWSLETTER

November, 2011

Our Next Meeting is Thursday, November 17, 2011 from 6:30 to 9:30 PM

2011 Fall Show, One of the Best!

Meeting Calendar for 2011

May 19 Sep. 15

Collecting Liberty Seated Quarter Sub-types:
Challenging and Still Affordable By Amo Safran

Club

Jan. 20

Feb. 17 June 16 Oct. 20

Mar. 17 July 21 Nov. 17

Apr. 21 Aug. 18 Dec. 15

2011 Fall Show, a Success on all fronts

Our annual Fall Show is now history but from all
accounts it was one of our best. Usually the first day of the show
is “soft” in public attendance but this year, Friday fell on
November 11, the Veterans Day holiday and while most schools
were in session, banks were closed and no mail was delivered.
Many were able to take the day off and a good number of people
interested in Numismatics decided to take advantage of the
beautiful fall weather and attend our show at Patriot’s Park. The
bourse was well balanced with a wide variety of numismatic
items for sale. There were dealers in US coins, foreign coins,
Ancient coins including tokens and medals. For collectors of
paper money there were a number of dealers touting large and
small US Bank notes, Obsolete and Confederate banknotes and
foreign currency. Within the category of scrip, there were
Military Payment certificates and WW II memorabilia in the
forms of ration coupons. Finally one could see or acquire exotic
money from distant parts of the world such as Yap money.

It was nice to see many young people with their
families browsing the bourse and also to observe many dealers
catering warmly to these potential young numismatists by
giving them National park quarters and even SBA or Sacagawea
dollars as change for their purchases.

Show Chairman David Chism is to be congratulated
once again for putting on another successful show along with
the many club members who helped out with the set up
beforehand, at the welcoming desk during the show and the take
down after the show.

This was our fourth show at Patriot’s Park and despite
its distance from downtown Augusta; just maybe, citizens of the
CSRA are beginning to attend as evidenced by many members
of both area clubs who were present.

(More on the Show and other Club News continues on page 4, column 1)

An 1853 arrows and rays Liberty Seated Quarter
Arguably the most popular sub type of the series

[Magnify to 200% to observe the beauty of this sub type]

After the short run of large Capped Bust quarters
(1815-28) and the even shorter consecutive run of the small
Capped Bust type (1831-38), the Liberty seated quarter was
inaugurated in the latter half of 1838 and continued to be struck
in consecutive years through 1891 for what was then a record
tenure of 54 years.

While there is a serious collector base for Liberty
Seated dollars and half dollars along with interest in the dimes
and half dimes as well, the Liberty seated quarter denomination
has never gained as much favor with collectors. Because of the
type’s long tenure, the numbers who have assembled a complete
date and mint mark set for any of these five denominations are
small. On the other hand persons wishing to complete a sub type
set should have little to no difficulty as there are enough
common dates available. This is true for the quarter
denomination as well. Since “completeness” is one of the aims
of most collectors, such a challenge is worth the undertaking.

The major Liberty Seated quarter sub-types can be
broken down as follows:

No motto above eagle on reverse (1838-1865)

With motto above eagle on the reverse (1866-1891)

No drapery on obverse (1838-1840)

With drapery on obverse (1840-1891)

With arrows and rays (1853 only)

With arrows at date (1853, 1854 and 1855); (1873 and 1874)
No arrows at date (1838-1853), (1856-1873), (1875-1891)

(Continued on page 2, column 1)

- 2 -

The Augusta, GA Coin Club Monthly Newsletter_November, 2011

Vol. 11, No. 11

Collecting Liberty Seated Quarters by Sub-Type

(Continued from page 1, column 2)

In 1836 after a hiatus of 33 years, silver dollar coinage
was resumed showing a Liberty Seated figure with no stars on
the obverse and a soaring eagle in a sea of stars on the reverse.
The coin was engraved by Christian Gobrecht after sketches by
Thomas Sully (Obv.) and Titian Peale (Rev.) Only 1,600 pieces
were intended for circulation. Today the coin is considered one
of our most beautiful and outstanding examples of coinage art.

An 1836 Liberty Seated/ soaring eagle Gobrecht $1.00 (NGC-58)
[Magnify up to 200% to better see the details of the design]

In 1837, the dime and half dime were changed from
Capped Bust to the new Liberty Seated no stars obverse. On the
reverse the eagle was removed and replaced by a wreath.

1837 transitional dime types (Capped Bust left; Lib. Std. (right)

In 1838 it was the Quarter’s turn to undergo the
transition from the Capped Bust to the new Liberty seated type.
Apparently Mint Director Robert Maskell Patterson had second
thoughts on the no stars obverse, so Gobrecht put back the
thirteen stars on the obverse that were featured on the previous
Draped and Capped Bust types; perhaps as a symbolic reminder
of the original 13 colonies which formed our republic. While the
seated Liberty can appear more dazzling in BU than its Bust
counterpart, it loses much of its attractiveness below XF-40.

Obverses if the 1838 Capped Bust and Liberty Seated quarters
Notice the extensive wear on the high points of the Liberty seated example.
(Magnify to 200% for better viewing]

Reverses if the 1838 Capped Bust and Liberty Seated quarters
The same eagle of the previous type was retained albeit smaller
with QUAR. DOL replacing 25 C.

(Magnify to 200% for better viewing]

More difficult to understand was the decision to change
the majestic reverse depicting the eagle soaring in a sea of stars
seen on the 1836 Gobrecht $1. Instead John Reich’s pterodactyl¬
like eagle that appeared on the former Bust coinage going back
to 1807 was retained. On the new type the eagle appears smaller
and instead of 25.C the denomination now reads QUAR. DOL.

During the first three years of Liberty Seated silver
coinage, Miss Liberty’s gown lacked drapery between her left
elbow and upper leg above her knee, thus the nomenclature for
the no drapery variety. Incidentally atop the pole held in her left
hand is a Phrygian cap emblematic of freedom.

An 1840-0 no drapery Liberty Seated quarter
Graded AU-58 by NGC
[Magnify to 200%/]

In 1840 Mint Director Patterson brought in Robert Ball
Hughes to “improve” Gobrecht’s design but the result was less
than an artistic success as some of the features of Miss Liberty
were broadened along the head and arms making her appear less
graceful. Additional drapery was added to her gown under her
left arm. The new sub type was struck in smaller numbers than
the preceding years; 188,127 at the Philadelphia Mint and just
43,000 at the New Orleans Mint which had coined 382,200 of
the no drapery variety earlier that year.

[The New Orleans facility began operations in 1838 striking no
stars half dimes and dimes and with stars quarters.]

An 1840-0 no drapery Liberty Seated Quarter

There are enough common date quarters that display
the with drapery feature which are affordable in XF-40.

(Continued on page 3, column 1)

- 3 -

Vol. 11, No. 11

Collecting Liberty Seated Quarters by Sub-Type

(Continued from previous page)

Obverses showing the 1840-0 no drapery (I) and with drapery (r)
Liberty Seated quarter sub types side by side
Observe extra drapery under Liberty’s right elbow on the coin at right.
The rock she is sitting on is further away from the lowest right star.

While the reverses of the two 1840-0 quarter obverse sub-types
appear to be the same despite the tilt of the coin at right, the
mintmark O on the no drapery reverse is well to the left while on the
with drapery reverse it appears more to the right.

[Magnify up to 200% to see the details more clearly.]

The next sub type for the quarter series occurred in
early 1853. This was brought on by an event that took place
some five years earlier. In 1848 gold was discovered in northern
California at Sutter’s Mill just east of Sacramento. The event
sparked the famous great Gold Rush of 1849. By 1851 gold
mining had reached a feverish state. With so much new gold
available the value of silver increased in relation to the yellow
metal with the result that silver coins were being removed from
circulation as soon as they left the Mint. By January of 1853, the
coin shortage had become acute. On Feb. 21, 1853, Congress
adopted a proposal by Mint Director George N. Eckert reducing
the weight of all silver denominations with the exception the
dollar. To indicate the change, Eckert ordered Chief Mint
engraver James Barton Longacre (installed in 1849) to place arrows
surrounding the date and add rays emanating outwards from the
eagle on the reverse. 15,254,200 of the new sub type were
struck at the Philadelphia Mint compared with just 44,200 of the
no arrows and rays type produced in January; a record that
would stand until 1876 when 17 million quarters were issued.
Meanwhile an additional 1,332,000 1853-0 quarters with
arrows and rays were struck at New Orleans. The tactic proved
successful and silver coinage circulated once again.

The 1853 arrows and rays quarter (as seen at the head of this article.)
More than 15 million were struck in Philadelphia but the demand for this
popular sub-type has kept prices strong from AU-55 or better.

November, 2011

On March 4, 1853 Franklin Pierce was inaugurated as
our 14 th President succeeding Millard Fillmore who became our
13 th upon the death of Zachary Taylor in 1850. With changes in
the administration—even within the same party—many high
officials of the government who serve at the will of the
President opt to resign after the President who appointed
him/her has left office. Whatever the rationale, Col. James Ross
Snowden became the new Mint Director, succeeding George
Eckert and for reasons still unknown decided to have the rays
removed from the reverse of the quarter and half dollar while
retaining the arrows at date for 1854 and 1855. While either date
is collectible as another sub type, most collectors have a ho-hum
attitude and neither year is expensive. By 1856, Snowden had
the arrows removed altogether believing the public needed no
further reminding of the reduction in silver content.

After the Civil War ended, there was an effort among
religious leaders to insert some reverence for the almighty on
our coinage. The first coin to bear the motto IN GOD WE trust
was the 20 piece first struck in 1864. In 1865 a new copper
nickel 30 piece was introduced to help reduce the coin shortage
but it did not include the motto. The following year, 1866, the
motto was placed atop the obverse of the new 50 Shield nickel.
That same year the motto was inserted within a ribbon above the
eagle on the reverse of the Liberty Seated quarter, half dollar
and dollar thereby creating a new sub type. The motto would
remain thru 1891, the end of the run for the quarter and half.

An 1873 250 with motto (no arrows)

In 1873 Congress authorized our silver coins to be
struck in a new metric weight which translated into a miniscule
increase in the silver weight of the quarter from 6.2 grams to
6.25. Since this did not go into affect until April, those struck
after the changeover had arrows placed at the date for both 1873
and 1874 issues, thus creating still another sub type.

Obverses of 1873 250 no arrows (left) and with arrows (right)
[Enlarge to 200% to see details]

There are even more Liberty Seated quarter sub types
for the collector to ponder such as the closed 3 and open 3
varieties for 1873 but it is sufficient to know that the
aforementioned major sub types are collectible at modest prices
from XF-40 thru AU-58 worthy of display thereby providing yet
another aspect of the wonderful world of numismatics.

The Augusta, GA Coin Club Monthly Newsletter

Vol. 11. No. 11

The Augusta. GA Coin Club Monthly Newsletter

November. 2011

The Show & Club News

(Continued from page 1, column 1)

Seen at the Show

Dealer Don Cann of Southern Cross in Sumter, SC
displaying $1, $5, $10 & $20 notes of the Confederate Printing Plant,
Columbia SC, now a Publix Supermarket (top).

Also shown are replicas including the Montgomery $1,000 note (below).

A silver neck ring of the people of Hmong, Yunnan Province in
southern China at Don & Joy Cann of Southern Cross’s table

ACC member Vilma Safran modeling the silver neck ring
on Friday afternoon, 11/11/11 at our Fall Show

Show Raffle Prize Winners

The winners of the five raffle prizes at our Nov. 11-12,
2011 show were as follows:

1 st Prize: 1/10 oz gold eagle - Norman Boggs
2 nd Prize: 2009 silver Proof Set - Charles Harvey,
a junior member of our club.

3 rd Prize: an 1881-S Morgan $1.00

housed in a PCGS-63 holder - Don Young
4 th prize; A 1990 silver eagle graded MS-69 by NGC -
Chris Lucree

5 th prize: a BU 1958 Franklin Half-dollar-Philip Louma
Congratulations go out to all the winners.

October 20 Meeting Prize Winners

At our previous meeting the door prize winners were
Larry Lucree who won a 2011 Silver Eagle and Brian Hoyt, the
winner of a BU 1954 Franklin Half dollar. Elaine Attaway won
the 50/50 - $77.00. Congratulations Elaine on winning the big
one and Larry and Brian, the two door prizes.

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